Fevertree Drinks (AIM:FEVR) has made a solid start to the year and remains confident of achieving full-year market expectations for adjusted revenue and EBITDA while the Board is extending its share buyback programme by £30m.
The world's leading supplier of premium carbonated mixers said early-year momentum was driven by progress in the US with Molson Coors as it moves beyond the transition period to new account wins and wider distribution, a national US marketing campaign launched in April, a UK campaign "Straight Up or Mixed" also launched in April, continued momentum in Australia including a Lemon, Lime & Bitters launch with Angostura Bitters, and further share gains across the UK, Europe and the US, the Group said in its AGM trading statement.
"We remain confident in achieving market expectations for both adjusted revenue and EBITDA," Tim Warrillow, CEO, said.
Management reiterated that 2026 glass costs are fully hedged as disclosed at FY25 results and that it has significantly extended energy cost coverage into 2027 and 2028 while increasing hedging across other significant cost components into 2027.
The Board said the additional £30m buyback builds on the £100m repurchased in FY25 and the ongoing £30m tranche of which £18.9m had been returned as of 5 June, and that buybacks, alongside a progressive dividend policy, will sit alongside investment to accelerate growth.
The Group will publish its Interim Results on 10 September.
